Sibanye gets shareholder go-ahead for Stillwater deal
All resolutions for the approval and implementation of the proposed acquisition of Stillwater Mining Company were passed by the requisite majority of votes at Sibanye's general meeting today.
“We thank our shareholders for their support for this transaction which represents a unique and transformative opportunity to acquire world class, low-cost international PGM assets.
“Stillwater offers near-term organic production growth through the Blitz project, further enhancing Sibanye’s asset portfolio and will create in Sibanye, a globally competitive South African mining champion with a unique commodity mix,” Neal Froneman, CEO of Sibanye, said.
The number of shares voted in person or by proxy was 773,013,184 representing 83% of the total issued share capital of Sibanye ordinary shares.
The transaction is still subject to certain customary closing conditions as well as the fulfilment of the final major condition precedent - the approval of the transaction by the holders of a majority of Stillwater’s outstanding shares.
The Stillwater shareholders vote is also scheduled for today.
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